2018 Review - Origin Energy · approval and no material adverse changes in business conditions, our medium-term outlook supports dividends in FY2019. We look forward to updating you

2018Shareholder Review

“ It’s good to see a smile on a customer’s face, knowing that they’re happy with your service.”Gareth JacobsOrigin LPG Tanker OperatorBrisbane

2

“ Good energy. It’s both our new brand position and a statement that embodies our intent in everything we do.”

A message from Gordon and FrankWelcome to the 2018 Shareholder Review

Early in the year, when we were preparing our first major rebrand in our 18-year history, we asked ourselves, what does Origin stand for? And what do we want to be known for among our customers, our people, our shareholders and the broader community?

And as we thought about the pivotal role we play every day, delivering energy to customers large and small, we thought about what sets us apart from the pack.

It’s called ‘good energy’. It’s both our new brand position and a statement that embodies our intent in everything we do. Bringing this to life are the more than 5,000 people who work in our diverse business.

Gareth Jacobs, an LPG Tanker Operator in Brisbane, is one of our people who is passionate about delivering good service to our customers. We’d like to thank Gareth for appearing on the cover of this report and detailing what good energy means to him.

This year, good energy was represented in many forms. It was delivering flat or falling power prices for customers. It was delivering on our priorities to reduce debt and improve our business performance. It was also leading on climate change, by committing to halve our emissions by 2032 in line with the Paris Agreement.

We discuss these and many other matters throughout this report.

Progress on our commitments

We have continued to focus on strengthening our balance sheet and improving returns. We met our debt reduction target through asset sales, disciplined capital management and more efficient operational performance. The divestment of Lattice Energy and Acumen contributed to a reduction in debt of $1.6 billion, with adjusted net debt now sitting below $6.5 billion.

In FY2018 we performed strongly across our operations, with earnings growth in both the Integrated Gas and Energy Markets businesses. By reducing debt and lifting business performance, we have put Origin in a much stronger financial position, making us more resilient to cycles in commodity prices.

However, as we have not yet reached our target capital structure, the Board decided not to pay a dividend for FY2018. We did not take this decision lightly, as we are fully aware of the importance of dividends to our shareholders.

At our full year results announcement on 16 August, we advised that, subject to Board approval and no material adverse changes in business conditions, our medium-term outlook supports dividends in FY2019. We look forward to updating you on these prospects at our AGM.

What we’re doing for customers

Energy affordability has been a big focus for us this year. The closure of two large power stations at relatively short notice resulted in a surge in wholesale electricity prices in 2017. In response, we significantly boosted output at Eraring, which helped put downward pressure on prices. This contributed to flat or falling tariffs flowing through to Origin customers in New South Wales, Queensland, South Australia and the Australian Capital Territory from 1 July 2018.

We believe we have turned the corner on prices, with significant renewable supply due to come online by 2020, further reducing wholesale electricity prices. We expect to pass these savings on to customers.

Improved business performance

The improved performance in both our Energy Markets and Integrated Gas businesses increased underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) to $2.95 billion, a 36 per cent increase on last year’s result.

Our power generation and gas portfolios drove growth in Energy Markets. A 14 per cent increase in output at Eraring Power Station, coupled with higher wholesale electricity prices and natural gas sales contributed to the improvement in Energy Markets Underlying EBITDA to $1.8 billion.

The Integrated Gas business has made strong progress on plans to reduce operating and capital costs. At Australia Pacific LNG, a full year of operations from both LNG trains and higher commodity prices drove record production and earnings. Australia Pacific LNG also hit the milestone of delivering net cash flows back to Origin of $363 million. Overall, Integrated Gas delivered an Underlying EBITDA of $1.3 billion.

Outlook

There is no doubt that the political and regulatory environment within which we operate is changing quickly. The outlook for our business that we gave at our full year results was premised on market conditions and the regulatory environment not materiality changing.

On that basis, we said Energy Markets Underlying EBITDA is expected to be in the range of $1.5 billion to $1.6 billion. This lower outlook for FY2019 is due to increased competition in the retail market and because of our decision to absorb the 3 per cent electricity price increase in New South Wales from 1 July.

We also said that Energy Markets underlying earnings will be impacted by our changed treatment of certain electricity hedge

premiums, which were previously outside of underlying earnings. While this decision changed the presentation of underlying earnings, it had no impact on our statutory profit or net cash flow and as a consequence, the ability of our company to perform.

In our gas business, we said we expect continued capital and operating cost savings will be offset by higher one-off costs associated with changes in scope from FY2018, increased exploration activity and higher infrastructure spend. Australia Pacific LNG is on track to become a low-cost operator, allowing us to compete better in a global market increasingly dominated by US shale. Australia Pacific LNG’s production is expected to be steady with FY2018, at 660-690 petajoules.

We are confident that our improved position enables us to meet the challenges in front of us.

Origin people and purpose

We were pleased to welcome Samantha Stevens to our executive leadership team as head of Corporate Affairs earlier in the year. Samantha is an important addition to Origin as we respond to the heightened focus on the energy sector, driven by concerns about affordability and reliability.

We introduced a new purpose, values and behaviours to guide our efforts in making energy more affordable, smarter, easier and more sustainable for our customers.

The future

We know the energy market is set to face ongoing scrutiny and with this comes discussion of greater regulation. On behalf of our customers and shareholders, we will continue to contribute constructively to the policy debate.

We will also maintain our focus on getting energy right for our customers, communities and planet, to allow us to earn the confidence of our stakeholders to deliver the energy of the future.

We look forward to speaking with many of you at our forthcoming AGM on 17 October.

Thank you for your continued support.

Gordon CairnsChairman

Frank CalabriaChief Executive Officer

This year, Origin made good progress towards reducing debt and improving business performance.

Statutory profit

$218M$2.4B

Underlying EBITDA1

$2.9B36%

Underlying profit1

$838M110%

Adjusted net debt down by

$1.6BImproved safety

TRIFR of 2.2Our lowest ever result

Nil dividend in FY2018Outlook supports dividends in FY20192

IG underlying EBITDA1

$1.3B67%

Australia Pacific LNG supplier of

~ 30%of east coast gas demand

125cargoes shipped by Australia Pacific LNG

Opportunities to grow our gas resources:

Beetaloo Basin, NT Ironbark, QLD

Lattice Energy divestment completed

EM underlying EBITDA

$1.8B21%

Flat or declining electricity tariffs as at

1 July 2018in NSW, QLD, SA and ACT

4.2MElectricity, gas and LPG customer accounts

Customer satisfaction

21.7Our highest ever Interaction NPS score

Growing renewables to be more than

25%of our generation mix by 2020

Energy Markets Integrated GasFinancial

Our year in numbers

1 Continuing operations.

2 Subject to Board approval and no material adverse changes in business conditions.

Sydney

Rabaul

Honiara

Port Villa Suva

Apia

Tafuna Rarotonga

Port Moresby

Browse Basin

South East Queensland

Pacific Islands LPG

Bowen Surat Basin

Bowen Surat Basin

Adelaide

Melbourne

Hobart

Beetaloo Basin

Customer accounts225,000 electricity213,000 natural gas

Customer accounts1,200,000 electricity284,000 natural gas



Brisbane

BrisbaneRoma

GladstoneLNG Export

Gladstone

Generation

GasPumped hydroSolar (contracted)Wind (contracted)CoalUnder construction

LPG seaboard terminal

Electricity customer accountsNatural gas customer accounts

Exploration acreage

Origin upstream acreageAustralia Pacific LNGProduction facilityAustralia Pacific LNG pipeline

Office

Generation

GasPumped HydroSolar (contracted)Wind (contracted)CoalUnder ConstructionOfficeLPG Seaboard Terminal

Electricity Customer AccountsNatural Gas Customer AccountsProduction FacilityAPLNG Pipeline

Exploration acreage

Origin Upstream AcreageAPLNG Upstream Acreage

Sydney

Rabaul

Honiara

Port Villa Suva

Apia

Tafuna Rarotonga

Port Moresby

Browse Basin


Pacific Islands LPG

Bowen Surat Basin

Bowen Surat Basin

Adelaide

Melbourne

Hobart

Beetaloo Basin





Brisbane

BrisbaneRoma

GladstoneLNG Export

Gladstone

Generation




Exploration acreage


Office

Generation



Exploration acreage


Sydney

Rabaul

Honiara

Port Villa Suva

Apia

Tafuna Rarotonga

Port Moresby

Browse Basin


Pacific Islands LPG

Bowen Surat Basin

Bowen Surat Basin

Adelaide

Melbourne

Hobart

Beetaloo Basin





Brisbane

BrisbaneRoma

GladstoneLNG Export

Gladstone

Generation




Exploration acreage


Office

Generation



Exploration acreage


Sydney

Rabaul

Honiara

Port Villa Suva

Apia

Tafuna Rarotonga

Port Moresby

Browse Basin


Pacific Islands LPG

Bowen Surat Basin

Bowen Surat Basin

Adelaide

Melbourne

Hobart

Beetaloo Basin





Brisbane

BrisbaneRoma

GladstoneLNG Export

Gladstone

Generation




Exploration acreage


Office

Generation



Exploration acreage


Sydney

Rabaul

Honiara

Port Villa Suva

Apia

Tafuna Rarotonga

Port Moresby

Browse Basin


Pacific Islands LPG

Bowen Surat Basin

Bowen Surat Basin

Adelaide

Melbourne

Hobart

Beetaloo Basin





Brisbane

BrisbaneRoma

GladstoneLNG Export

Gladstone

Generation




Exploration acreage


Office

Generation



Exploration acreage


Where we operate

Origin also has one LPG seaboard terminal in Cam Ranh, Vietnam.

Australian Capital Territory customers are included in New South Wales. Northern Territory and Western Australia customers are included in South Australia.

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Delivering for our customers Providing energy that is more affordable, smarter, easier and more sustainable

We never forget that energy is an essential daily service. Our priority is to ensure that it is reliable, affordable and sustainable. We value our customers and the choice they make in Origin.

In July 2018, Origin took a leadership position on pricing, becoming the first retailer to announce flat or falling electricity tariffs in New South Wales, Queensland, South Australia and the Australian Capital Territory. This required Origin to absorb an expected 3 per cent price increase in green scheme and network costs to hold prices flat in New South Wales.

It was the first time since 2015 that customers didn’t experience a mid-year retail electricity price increase.

We believe we have turned the corner on prices, with significant renewables supply coming into the market by 2020 which will put downward pressure on prices. We will pass these reductions on to our customers.

We are committed to creating a positive customer experience and, in particular, reducing complexity when it comes to energy prices and offers.

Our digital-first approach is increasing customer interactions online, making it easier to deal with us. As a result, online sales, eBilling and My Account registrations all increased in FY2018. We have simplified our offers by

introducing dollar pricing into our online ‘Compare plans’ page. We also launched Savernator, Origin’s online price comparison tool, making it easier for customers to access our best offers.

Given the essential nature of electricity, protecting people in financial hardship is always a priority for Origin. We made sure that customers in our Power On hardship program did not pay the 2017 tariff increases and also received the benefit of flat or falling tariffs announced for 2018.

We are also working closely with community partners to support these customers, including investing more than $18 million in Power On. At the end of FY2018, the program supported 44,600 customers, with 7,900 customers paying off their debts.

4.2 millionAustralia’s largest energy retailer, with 4.2 million customer accounts

Delivered flat or falling electricity tariffs in most markets from 1 July 2018

Launched our online price comparison tool, Savernator

Saurav PaulSenior Consultant, Customer Contact Centre, Adelaide

Before Saurav Paul joined the Origin resolutions team, he already knew Origin as a customer. We helped him set up his first electricity account after migrating to Australia and moving into his new family home.

“I had a chance to speak with Origin’s representatives a few times and was incredibly impressed with their sense of responsibility and their desire to deliver the very best customer experience,” said Saurav. “It made me want to work with Origin.”

Saurav believes good energy creates happy customers. “My role is all about communicating with customers. My daily job is to answer customers’ queries and assist them, whether it is understanding their bills, or moving home and setting up an electricity account. I always make a point of leaving a customer with an answer

to their question, so they feel connected and satisfied with the service Origin is providing.

“I always put myself in the customer’s shoes and think how I would want to be treated. They are at the very heart of everything I do.”

Saurav said he loves everything about his job, especially talking to customers and working with a great team of people. “We are all individuals and yet we all work as one team, with one common goal: to keep our customers happy. I’m often told that I’m very positive. If I can spread a little of that good energy around, it helps to make people feel good.

“I’m passionate about helping people. It’s the stuff that gets me out of bed every day and gets me coming to work. It’s the force that brings people together,” said Saurav.

“ I always put myself in the customer’s shoes… they are at the heart of everything I do.”

Energy MarketsBoosting power output and gas supply to help reduce energy prices

In FY2018, Energy Markets Underlying EBITDA increased by 21 per cent to $1.8 billion, driven by a 13 per cent increase in natural gas sales volumes and improved returns in the generation business – the result of increased output and higher wholesale prices.

Origin is Australia’s largest energy retailer and a large power generator. Our portfolio includes the nation’s largest fleet of gas-fired peaking power stations, the largest single power station – Eraring, a black coal–fired station – and a growing supply of renewable energy.

Two power stations in the market, Northern and Hazelwood, were closed at relatively short notice by their operators in 2016 and 2017 respectively. Their closures withdrew a significant amount of capacity from the National Electricity Market, sending wholesale prices sharply upwards. In response, Origin increased output at Eraring by 14 per cent in FY2018, helping to stabilise the market, maintain a reliable electricity supply and put downward pressure on wholesale prices. We also brought online additional capacity at Pelican Point in South Australia and added 77 MW of new contracted renewable supply.

In the retail market, high prices and new entrants increased competition, spurring us to be more active across our sales channels. We won back 30,000 customers in the second half of FY2018, recovering most of the

losses reported in the first half of the year. Origin finished the year with a net loss of 17,000 customers.

We continued to focus on digitising customer experiences and also invested in our brand with a new ‘good energy’ campaign, highlighting our efforts to make energy more affordable, easier, smarter and more sustainable.

This activity kept Origin’s Strategic Net Promoter Score (NPS), which measures what customers are saying about us, at the top of the major retailers. We also measure customers’ views after a conversation or digital experience with us. This year we achieved a 6 point increase in our Interaction NPS to 21.7, our highest ever result.

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Responding to climate changeAccelerating towards a clean energy future

Responding to climate change is one of the most significant challenges facing companies around the world. In Australia, electricity generation accounts for approximately one-third of carbon emissions. As one of the nation’s largest power generators and gas producers, we believe our company, and the energy industry more broadly, should be at the forefront of action to reduce emissions.

This year, Origin became the first Australian company to set an emissions reduction target approved by the Science Based Targets initiative. The initiative is an independent body made up of representatives from the World Resources Institute, the Carbon Disclosure Project, the World Wildlife Fund and the United Nations Global Compact.

To obtain accreditation, Origin’s target and associated modelling were assessed for compliance with the Paris Agreement’s 2°C goal trajectory. In December 2017, we made a formal, public commitment to halve our direct (Scope 1 and Scope 2) carbon emissions by 2032. We also committed to an ambitious indirect (Scope 3) target. To help us reduce our emissions, we have committed to exiting coal-fired generation by 2032, growing renewables in our portfolio, increasing the supply of gas and introducing new products.

Origin has long considered the effect of decarbonisation on the value of our assets. We believe the transition to a low-carbon future provides more opportunities than risks for Origin.

We have invested in a relatively low-carbon, cost-competitive and flexible energy-generation fleet. In FY2018, we introduced approximately 77 megawatts (MW) of additional contracted renewable capacity from three new solar farms. Origin expects two of these farms to ramp-up to full capacity of 320 MW in FY2019. A further 790 MW of contracted renewable capacity is under development. We are on track to reach our target for renewables to make up more than 25 per cent of our generation mix by 2020, up from 13 per cent today.

We also consider our Integrated Gas portfolio to be well positioned for a low-carbon world. Our supply of gas plays an important role in complementing renewable energy domestically, while our Australia Pacific LNG exports help lower emissions in Asia by supporting the substitution of higher carbon fuels like coal with low carbon natural gas.

We have a five-pillar approach to progressively decarbonise our business, achieve our emission reduction targets and contribute to Australia’s emissions reduction targets.

Origin’s five pillars of decarbonisation:

1. Exit coal-fired generation by 2032.

2. Significantly grow renewables in our portfolio.

3. Utilise our strong gas position as a lower-emissions firming fuel.

4. Empower customers with cleaner, smarter energy solutions.

5. Demonstrate leadership in climate change advocacy.

Committed to halving our direct carbon emissions by 2032

Added 77 MW renewable energy from three new solar farms

25%On track for renewables to make up more than 25 per cent of our generation mix by 2020

Gareth JacobsLPG Tanker Operator, Brisbane

Gareth Jacobs literally delivers good energy to our customers. Every morning, he fills his single-axle Volvo truck with up to 10,500 litres of LPG and hauls it throughout Brisbane and as far south as Coolangatta.

He started with Origin almost nine years ago, working as a terminal operator on the dock at Riverside.

“I’d known someone who worked for Origin before I joined and they told me about the company values and how well you are treated; you’re not just a number,” said Gareth. “The job offers good security and they really look after us. Plus, I get to interact with customers, see new places and faces, and I’ve even made lifelong friends through this job.”

Gareth’s day starts at 6am at Origin’s terminal on Bulwer Island, Brisbane, before he heads out in his truck

to deliver gas to a multitude of commercial sites, from takeaway food outlets to metal fabricators.

The gas is pumped from the tanker into onsite cylinders, that hold anything from 360 litres to 3,000 litres.

“They look similar to the LPG tanks some might have at home, only with a lot more girth and height,” Gareth said.

“When I think about what good energy means, I think about the customers. It’s good to see a smile on a customer’s face, knowing that you’ve done a good job and that they’re happy with your service,” said Gareth.

14%Increased Eraring output to improve reliability and affordability

Increased natural gas sales volumes by 13 per cent to a record 281 PJ

21.7Recorded an Interaction NPS of 21.7, our highest ever customer satisfaction level

“ When I think about what good energy means, I think about the customers.”

5

Charmaine BrethertonMaintenance Coordinator, Eraring Power Station, New South Wales

Charmaine Bretherton left a career in finance to start work at Eraring Power Station 14 years ago. Her first task each day is to take part in ‘Toolbox’ talks, discussing safety and arranging maintenance jobs around the plant.

“I facilitate and coordinate the contractors on site, taking care of everything to do with facilities management for the asset, from fencing and cleaning, to waste management and recycling, land management, canteen staff, pest control and security.

“I’m often out on site, ensuring the work is being carried out correctly and safely,” she said. “We have a really great crew of contractors and we all work well together. They’re all very safety-focused and always looking at new ways to do things more efficiently.”

Charmaine said the best aspect of her job is variety – she never knows what each day will bring. “It keeps things interesting,” she said. “There can be some challenges, but when you have a good team to work with, things get done, and that’s satisfying.”

One of Charmaine’s most important roles is keeping on top of the heavy-duty cleaning work around the power station.

“A spill down the sides of conveyor belts can have a knock-on effect,” she said. “If we don’t clean up spills they can stop belts from running, which means we can’t get fuel into the power station to make electricity.

“To me, good energy is safe energy. It’s not just about producing megawatts. It’s also about making sure everyone stays safe and gets to go home to their families,” said Charmaine.

“ To me, good energy is safe energy.”

6

Future energy Connecting customers to the energy and technologies of the future

A major transformation is underway in energy markets around the world, in part driven by technology. New technology will transform the way customers interact with energy in their homes and businesses, providing more insight and control over energy use and costs than ever before.

Origin has taken a number of steps to get closer to where new ideas and technologies are being developed here and abroad, including trialling and introducing a number of new products and services with our customers.

In 2017, we established O hub, an agile, collaborative workspace in which Origin teams work alongside

tech start-ups to help us more rapidly prototype and trial new customer solutions. We used O hub to successfully trial a new tool, Usage Buster, which gives smart meter customers a breakdown of their energy usage by appliance categories. It helps customers understand where in their home they are using energy, and how to better control their energy costs. We have now rolled out this tool to approximately 40,000 smart meter customers.

Origin is a co-founder of Free Electrons, a global clean energy accelerator program that selects start-ups each year to undergo rigorous assessments, culminating in market trials with large utilities, including Origin. The 2018 program began in May with 10 utility partners selecting 15 start-ups with a range of exciting products and services. They were chosen from more than 500 global applicants.

Origin has already partnered with Tempus Energy in a previous Free Electrons intake to trial a demand-side energy management platform for business customers in South Australia. The platform synchronises energy with periods of high renewable supply, ensuring optimal use of energy. Energy prices are also generally cheaper during these periods, reducing costs for our customers.

Origin is actively looking to trial solutions from other participants in Free Electrons. These include reusing spent electric vehicle batteries for stationary energy storage applications and incorporating energy usage data in an elderly care wellbeing service.

We are also the principal sponsor of EnergyLab, based at the University of Technology Sydney, which is a home for clean energy innovation and Australian energy technology start-ups.

Established O hub, a collaborative tech workspace to rapidly trial and deploy new products

Rolled out Usage Buster to approximately 40,000 customers

Trialling Tempus Energy demand response solution for large customers

Elise RingManager, Monitoring and Support Centre, Brisbane

When you turn on your television or boil the kettle, spare a thought for Elise Ring and her team. Elise manages Origin’s high-tech Monitoring and Support Centre, based in Brisbane.

Elise and her team of operations and efficiency engineers are responsible for delivering power to millions of Australians along the east coast of Australia. The team oversees 22 generating units remotely, optimising gas generation in Victoria, Queensland and South Australia, and gas, coal and hydro generation in New South Wales.

“At the push of a button, my team are stopping and starting power stations across the country and providing people with electricity in real time,” Elise said. “We look after 2,264 megawatts, which represents power to more than 2 million homes.”

The centre is one of the most advanced of its kind in the world, also acting as a virtual brain, collecting 3 trillion points of operational data from thousands of sensors in nine locations across four states.

“We’re collecting data, then using machine learning and neural networks to make better decisions for the business, to drive down costs for the customer, and to create different ways of doing things to make our power stations more reliable,” Elise said. “It’s leading-edge technology and we’re trying to push the boundaries every day.”

“What is good energy to me? It’s giving people access to safe, reliable and affordable power,” said Elise.

“ At the push of a button, my team is stopping and starting power stations across the country and providing people with electricity in real time.”

7

Integrated Gas Developing resources to meet growing gas demand

In FY2018, Underlying EBITDA in Integrated Gas increased by 67 per cent, or $504 million, to $1.3 billion. This was underpinned by a recovery in commodity prices and record production at Australia Pacific LNG, which was up 11 per cent on FY2017, following a full year of operations from two LNG trains.

Origin is the upstream operator for Australia Pacific LNG and has a 37.5 per cent interest in the joint venture. Australia Pacific LNG holds Australia’s largest coal seam gas reserves and operates the largest LNG facility on the east coast. As well as meeting its export contract commitments, Australia Pacific LNG is a supplier of close to

30 per cent of total east coast gas demand in 2018.

The joint venture shipped 125 cargoes in FY2018 and delivered $363 million in net cash flows back to Origin.

Origin continued to progress plans to significantly reduce upstream operating and capital costs so we can be more globally competitive. This included embedding a simpler, flatter, asset-led operating model. We also lowered well costs by lowering overheads, improving surface facilities design and re-pricing rig and construction contracts.

Australia Pacific LNG’s 1P, 2P and 3P gas reserves all increased for the year before accounting for production.1

Origin continues to pursue opportunities to bring on new gas supply. This includes

entering early project planning stages (called FEED) at Ironbark in the Surat Basin in Queensland, and continuing our highly prospective exploration and appraisal in the Beetaloo Basin in the Northern Territory, where the government recently lifted its moratorium on onshore gas production following the Scientific Inquiry into Hydraulic Fracturing in the Northern Territory.

We are currently working hard to meet the government’s preconditions. Doing so will allow us to resume our drilling activity in the Beetaloo Basin in 2019.

1 Some of APLNG’s reserves and resources are subject to revisionary rights and an ongoing royalty in favour of Tri-Star. For further information refer to Section 6 of Origin’s Operating and Financial Review released to the ASX on 16 August 2018.

Australia Pacific LNG shipped 125 LNG cargoes

Australia Pacific LNG returned $363 million in net cash flows to Origin

Met export commitments and supplier of ~30 per cent of east coast gas demand

Conway BlackerPlant Technician, Quarantine Power Station, Adelaide

Conway Blacker loves nothing more than a smooth-running turbine.

“To me, good energy is energy you can rely on,” said Conway, whose role is diverse, ranging from general plant operations to coordinating major plant shutdowns for important maintenance activities. “I do pretty much everything to keep the plant highly reliable,” he said.

His job includes repairing and maintaining the five gas-driven turbines at the heart of the Quarantine Power Station. The four smaller turbines are 25 MW units, each the length of a B-double truck. “Our large 125 MW unit is about 20 to 30 metres high, with a footprint of at least 600 plus square metres. It’s pretty big.”

Because the power station is a peaking plant, only running during periods of high demand to help maintain a reliable supply of energy to the market, it’s essential that it’s ready to produce power as soon as it’s required.

“Most of the planning and maintenance work gets done when the plant isn’t operating,” said Conway. “We are always planning work well in advance and are constantly looking at how we can improve or expand our plant. I’m really proud of the part we have played at Quarantine to help Origin’s total power generation fleet achieve really high reliability – especially through the critical summer months when our stations are needed most,” he said.

“ To me, good energy is energy you can rely on.”

Gordon CairnsIndependent Non-executive ChairmanIndependent Director since June 2007

Chairman since October 2013

Chairman of Nomination Committee

Member of Audit; Health, Safety and Environment; Remuneration and People; and Risk committees.

John AkehurstIndependent Non-executive DirectorIndependent Director since April 2009

Chairman of Health, Safety and Environment Committee

Member of Nomination; and Risk committees.

Teresa EngelhardIndependent Non-executive DirectorIndependent Director since May 2017

Member of Audit; and Remuneration and People committees.

Scott PerkinsIndependent Non-executive DirectorIndependent Director since September 2015

Chairman of Remuneration and People Committee

Member of Audit; Nomination; and Risk committees.

Frank CalabriaManaging Director and Chief Executive OfficerManaging Director and Chief Executive Officer since October 2016

Director of the Origin Foundation

Member of Health, Safety and Environment committee.

Maxine BrennerIndependent Non-executive DirectorIndependent Director since November 2013

Chairman of Risk Committee

Member of Audit; and Nomination committees.

Bruce MorganIndependent Non-executive DirectorIndependent Director since November 2012

Chairman of Audit Committee

Member of Health, Safety and Environment; Nomination; and Risk committees.

Steven SargentIndependent Non-executive DirectorIndependent Director since May 2015

Chairman of the Origin Foundation

Member of Health, Safety and Environment; and Remuneration and People committees.

Board of Directors

Jon BriskinExecutive General Manager, RetailJon is responsible for energy sales, marketing, product development and service experience for Origin’s residential and SME customers.

Greg JarvisExecutive General Manager, Energy Supply and OperationsGreg is responsible for wholesale, trading, business energy, solar, generation and LPG.

Carl McCamishExecutive General Manager, Technology, Risk, HSE, and TransformationCarl is responsible for information technology, company transformation and risk.

Mark SchubertExecutive General Manager, Integrated Gas Mark is responsible for Origin’s growth assets and its role as the upstream operator of Australia Pacific LNG.

Lawrie TremaineChief Financial OfficerLawrie is responsible for finance, corporate strategy, corporate development, procurement and investor relations.

Andrew ClarkeGroup General Counsel and Company Secretary Andrew is responsible for the company secretarial and legal functions.

Tony LucasExecutive General Manager, Future Energy and Business DevelopmentTony leads the team responsible for strategy and risk for Energy Markets.

Sharon RidgwayExecutive General Manager, People and CultureSharon is responsible for People and Culture and the Origin Foundation.

Samantha StevensExecutive General Manager, Corporate AffairsSamantha is responsible for external affairs, government engagement and public policy, and employee communications.

Executive Leadership Team

Directory

Registered Office

Level 32, Tower 1100 Barangaroo AvenueBarangaroo, NSW 2000

GPO Box 5376Sydney NSW 2001

T (02) 8345 5000F (02) 9252 9244

[email protected]

Secretaries

Andrew Clarke Helen Hardy

Share Registry

Boardroom Pty Limited Level 12, 225 George Street Sydney NSW 2000

GPO Box 3993 Sydney NSW 2001

T Australia 1300 664 446 T International (+61 2) 8016 2896 F (02) 9279 0664

boardroomlimited.com.au [email protected]

Auditor

KPMG

Supporting good causes

The Origin Foundation has contributed more than $23 million to the community since its inception in 2010.

The Foundation focuses on supporting programs that use education to help break the cycle of disadvantage and empower young Australians to reach their potential.

Origin employees, who chose the Foundation’s focus, volunteer their time to support many of its partners. They also donate through the Foundation’s matched giving program, Give2. In FY2018, 240 not-for-profit organisations received donations through the program.

More than $23 million to support communities

8,000 volunteering hours by Origin employees

$340,000 in donations from our employees, matched by the Foundation

Origin Foundation supporting our future leaders

Marianne Haines, a 24-year-old environmental microbiologist from Nagambie, Victoria, dreams of helping the world move to a more sustainable future. She is well on her way, uncovering the secrets to using bacteria and algae to produce new forms of renewable energy.

Marianne is studying for a doctorate in geoscience at the University of Calgary in Canada after the Origin Foundation awarded her a John Monash Scholarship.

“My focus is on developing bio-technology that uses microorganisms to generate new forms of sustainable energy,” she said. “The tiny beings multiply on a diet of sunlight, water, CO2 and key nutrients. They can then be processed into an end product, like methane, using a group of other microorganisms. The net effect is the production of combustible biofuel in a carbon-neutral manner.”

The John Monash Scholarships support Australia’s brightest young minds and future leaders, helping them pursue their educational potential at the world’s most reputable universities.

The Origin Foundation is a long-term partner of the General Sir John Monash Foundation, funding scholarships for eight years in the areas of sustainability and engineering.

Further information about Origin’s performance can be found on our website:

originenergy.com.au

2018 Review - Origin Energy · approval and no material adverse changes in business conditions, our medium-term outlook supports dividends in FY2019. We look forward to updating you

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